Yes you should be able to watch any PVR/DVR Event without receiving a signal. In the past it required a signal but with a software update they will now allow it to still view those events. If you have your system deactivated and it is receiving a signal you will lose all of your PVR/DVR Events.
If you have travelling in mind such as an RV/Camper for this receiver it is not recommended because it is hard on the hard drive and may cause hard drive failure.